WILDER, Vt.
A Boston-based private equity firm has agreed to buy 13 TransCanada hydroelectric dams along the Connecticut and Deerfield rivers in Vermont, New Hampshire and Massachusetts.
The Valley News reports an ArcLight Capital Partners’ affiliate, Great River Hydro, has agreed to acquire the New England dams. The terms of the deal were not disclosed.
In its announcement, ArcLight said the company plans to retain “all operational personnel” and assume the recently negotiated union contract. It said it also will continue to pursue federal relicensing of the Bellows Falls, Wilder and Vernon facilities.
ArcLight Capital Partners was co-founded by energy industry investor Daniel Revers, an alumnus of Dartmouth College Tuck School of Business. The announcement Tuesday came the same day the business school announced the creation of the Revers Center for Energy, named after Revers.
TransCanada bought the dams from US Gen New England in 2005 and wanted to sell them to help finance the purchase of a pipeline.
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